Protecting your future: Planning ahead can help prevent family in-fighting

Thursday

Feb 7, 2013 at 2:00 AM

One of the many goals of proper estate planning is to prevent family feuding. The idea is to ensure that the worry, stress and cost of these legal battles is avoided. But on top of that, if done right, avoiding costly disputes saves an immense amount of time.

Bonnie Kraham

One of the many goals of proper estate planning is to prevent family feuding. The idea is to ensure that the worry, stress and cost of these legal battles is avoided. But on top of that, if done right, avoiding costly disputes saves an immense amount of time.

The legal system often does not act swiftly. It is important not to underestimate the simple benefit of having property matters resolved right away after a passing, instead of making surviving loved ones wait months or even years, preventing them from obtaining necessary funds and moving on with their lives.

The possibility of prolonged resolution increases any time there is no estate planning or poor estate planning. The court proceeding called probate takes time. But the delay is especially pronounced where there is feuding resulting in court battles.

The will contest of painter Thomas Kinkade, also known as the "Painter of Light" will help illustrate my point. An estimated one in every 20 homes contains a copy of his works, best known for traditional scenes of gardens, cottages, streams and small town centers. Considering the mass marketing and popularity of his work, Kinkade was able to acquire a considerable fortune over the years. His estate is estimated at more than $60 million.

He died last April at the age of 54. Disagreement reigned in the resolution of his estate, but the matter was privately settled late last year.

Kinkade was married, but his wife filed for divorce two years before his death. He had four children with his wife. For the last year and a half before his death, he lived in his home with his girlfriend.

Kinkade's girlfriend had been feuding with his wife and children since his death. The dispute centered on two handwritten wills, called "holographic" wills, allegedly created in the months before his passing. Both wills were apparently in bad shape and barely legible.

The girlfriend argued that the wills left the home to her and established a $10 million museum at the studio next door. The girlfriend's lawyers claimed that Kinkade had a hand tremor as a result of alcohol withdrawal, which caused the legibility problems with the handwritten wills.

Kinkade's wife contested the will. The court would have decided the result of the battle if there had not been a settlement.

The Kinkade estate is a reminder that such disputes often drag out for years. Beyond avoiding the stress and uncertainty of a legal battle, proper estate planning also ensures timeliness. No matter how complex one's situation, there is nothing to gain from leaving matters in such a mess that survivors are forced to wait years before having them resolved or having to hire lawyers to force a settlement. The best remedy is to plan ahead and to regularly update your estate planning, especially when your situation and desires change.

Bonnie Kraham is an attorney practicing elder law estate planning with Ettinger Law Firm, 75 Crystal Run Road, Town of Wallkill. She can be reached at 692-8700, ext. 119 or at bkraham@trustlaw.com. This column is intended to provide general information, not legal advice.